Letter: Political double talk

Central banks across Europe are manipulating their currencies, but none more so than Ben Bernanke. He is again printing money to buy our old debt. He is running these transactions through banks who receive a commission for doing nothing. To pay the commission we go deeper in debt. Bernanke's shell game is absurdity that just prolongs the inescapable.

Meanwhile, China and Russia are amassing thousands of metric tons of gold. On top of that, China continues to buy the debt our Federal Reserve is not buying. China wants their currency to replace the dollar as the world's exchange currency and it looks like that is going to happen.

On the spending side, Congress (more important, Democrats) have not passed an Obama budget during his presidency. It's "spend as we go," a policy that is increasing the deficit at the rate of $200 million dollars per hour.

In his first term Obama said he would cut the deficit by $5 trillion; his second term, $4 trillion. He even said he would cut the deficit with borrowed money. His current theme is "on balance." Until Obama and Democrats bring a budget to the table it is nothing but political double talk.

Al Ostendorf

Cheviot

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Letter: Political double talk

Central banks across Europe are manipulating their currencies, but none more so than Ben Bernanke. He is again printing money to buy our old debt. He is running these transactions through banks who